Lyon Real Estate Press Release March 2012

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  • 7/31/2019 Lyon Real Estate Press Release March 2012

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    TRENDGRAPHI X MONTHLY REAL ESTATE REPORTBROUGHT TO YOU BY

    Lyon Real Est at e3640 American River Drive, Suite 100, Sacramento, CA 95864

    F O R I M M E D I A T E R E L E A S E

    March 14, 2012

    CONTACT: Pat Shea, President(916) 690-0980

    Roaring i nt o March like a Lion

    Significant, year-over-year growth in new purchase contracts continued its run straight through

    February and into March. This sales trend, as well as historically low inventory levels, is causingmany people to believe the Greater Sacramento Real Estate Market is truly bouncing aroundrock bottom.

    Four core counties enjoyed the following individual, new-sale increases in February of 2012versus February 2011: El Dorado 46%, Sacramento 43%, Placer 38% and Yolo 26%. Thecombined counties also experienced a 1% increase in average sales price, which closed at$214,000.

    Equity and Short-Sale contracts continued to grow as a percentage of both closed escrowsand new sales, while bank-owned (or REO) listings persisted in their decline. These new salescontracts for February broke down as follows: Equity 33.4%, Short-Sale 43.4% and REO23.2%. The rates of default and foreclosure also continue a slow but steady decline bothnationally and locally.

    Months of inventory remains an uneasy yet compelling topic. This metric reflects how swiftlyinventory will deplete at the current rate of sale and zero new listings. Our four countiescurrently reveal the following: Sacramento 2.0, Placer 2.1, Yolo 3.0 and El Dorado 3.5. Thecombined inventory is a convincing 50% less than February 2011.

    There is just one additional vital sign on the rise. 303 new sales over $400,000 marked a 44%improvement over January and a 32% increase over February of 2011. Here are the Cliff Notes: prices are low, interest rates are low, inventory is low and multiple offers are high. So if you are a Buyer, its definitely time to get busy, said Pat Shea, President, Lyon Real Estate.

    Homeowners with little or no equity might also consider making their move since prices andaccompanying interest rates are certain to climb. It may just be the best time to secure yourdream home.

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    Core Coun t ies Combined - Sacrament o, Placer, El Dorado & Yolo

    County CurrentMonthPriorMonth Var %

    Same M oPrior Year Var %

    All SalesClosed Sales 2,028 1,873 8% 1,791 13%New Contracts 3,602 3,108 16% 2,549 41%Inventory 4,496 4,936 -9% 8,030 -44%Months of Inventory 2.2 2.6 -16% 4.5 -51%Avg Sales Price (in Thousands) $214 $212 1% $222 -4%Avg Sales Price Per Sq Ft $116 $116 1% $119 -2%

    Shor t Sales Breakou t

    Closed Sales 639 632 1% 416 54%New Contracts 1,564 1,465 7% 897 74%Inventory 1,243 1,541 -19% 2,998 -59%Months of Inventory 1.9 2.4 -20% 7.2 -73%Avg Sales Price (in Thousands) $206 $212 -3% $229 -10%

    Avg Sales Price Per Sq Ft $108 $110 -1% $116 -7% REO Sales Breako ut

    Closed Sales 662 602 10% 799 -17%New Contracts 836 737 13% 878 -5%Inventory 777 855 -9% 1,679 -54%Months of Inventory 1.2 1.4 -17% 2.1 -44%Avg Sales Price (in Thousands) $163 $163 0% $174 -6%Avg Sales Price Per Sq Ft $97 $97 0% $100 -3%

    $40 0K Sales & Over Breakout

    Closed Sales 163 134 22% 151 8%

    New Contracts 303 211 44% 229 32%Inventory 1,001 1,007 -1% 1,320 -24%Months of Inventory 6.1 7.5 -18% 8.7 -30%Avg Sales Price (in Thousands) $551 $571 -4% $569 -3%Avg Sales Price Per Sq Ft $165 $174 -5% $171 -3%

    Shor t -Sales & REO Sales as Percen tage of Total Sales

    Current Mont h Prior Mont h Same Mont h Last Year Reg SS REO Reg SS REO Reg SS REOClosed Sales 35.8% 31.5% 32.6% 34.1% 33.7% 32.1% 32.2% 23.2% 44.6%New Contracts 33.4% 43.4% 23.2% 29.2% 47.1% 23.7% 30.4% 35.2% 34.4%

    About Trendgraphix, I nc.Trendgraphix, Inc. is a real estate reporting company based in Sacramento that uses local MLS data to provide highly-visual market statistical graphs to real estate brokers, agents, and MLS/Realtor associations across the USA.Trendgraphix's programs are currently used by tens of thousands of agents in more than 100 brokerages in 18 U.S.states. For more information visit www.TrendGraphix.com or email [email protected]